4312 W 13 MILE Road Royal Oak, MI 48073

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$3,667,700

Market Estimate

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0 Beds
48 Baths
21,500 sq. ft.
Multi-Family
MLS# 60279523

4312 W 13 MILE Road, Royal Oak, MI 48073

Listing provided courtesy of: Greater Development LLC - 313-209-2900

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Property Details

Description

Welcome to Altitude West, an exceptional multifamily community comprising 24 units, strategically positioned adjacent to the prestigious Beaumont Royal Oak hospital. This thriving property, currently enjoying stable cash flow, presents an exciting opportunity for investors seeking to maximize value through strategic renovations and elevate the living experience for residents. Altitude West presents an exciting investment opportunity with a proven track record of successful renovations and increased rental income. The fact that the property has already undergone renovations, resulting in higher rental rates, establishes a positive precedent for future improvements. The presence of an effective property management team at Altitude West ensures a seamless transition for owners and contributes to the overall success of the investment. In summary, Altitude West offers a unique blend of stability, strategic location, and renovation potential, making it an ideal choice for investors seeking long-term appreciation and value growth in the dynamic real estate market of Royal Oak.

General Features
- COMMUNITY AMENITIES Laundry Facility
- Acreage 0.94
- Area Municipality Royal Oak (63251)
- County Oakland
- Originating MLS RealComp
- Ownership Private
- Structure Style 2 Story
- Subdivision OAKLAND HIGHLANDS
- Waterfront Y/N No
- Year Built 1963
- ZONING Multi-Family
Building Features
- Basement Type Block, Partially Finished
- Exterior Construction Brick
- FUEL TYPE Natural Gas
- Foundation Type Basement
- Heating System Baseboard, Hot Water
Property Features
- Sewer Septic Public Sanitary
- Roads Paved Street
- Lot Size 100x400
- Water Public Water
Schools
- School District Royal Oak Neighborhood Schools

Neighborhood

48073 (Royal Oak) Demographics

36 Median Age

4,693 Population Density (per sq. mile)

64% College Educated

$78,279 Estimated Median Income

10,446 Estimated Total Home Owners

5,919 Estimated Total Renters

64% / 36% Estimated Owner / Renter Divide

2 Estimated Average Household Size

34,628 Total Population

Community data courtesy of LiveBy, Inc.

Market Last 30 Days In This Postal Code

$312,000 Median Sales Price

60 Homes Sold

63 New On Market

Average Days on Site

Properties for Sale

Calculations provided by Reliance Network

Property History

Date	Event	Price	Percent Change
--	Current Price Source: Multiple Listing Service	New Value: $3,667,700
12/26/2023 2:21:00 PM	New in Database Source: Multiple Listing Service	New Value: $3,667,700

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* This payment calculator is intended for educational and planning purposes only.
** Assumes 6.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.

Information is provided in part by the IDX program of the Great Lakes Repository. All information provided is deemed reliable but is not guaranteed and should be independently verified.

Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.